Pakistan establishes Central Debt Management Office on IMF condition ahead of loan review

ISLAMABAD – Cash-strapped Pakistan has established a Central Debt Management Office in light of stern conditions demanded by the International Monetary Fund.

The latest move comes as the global lender shared lists of prerequisite actions and gave a timeframe of three weeks to authorities concerned for implementing all demands ahead of talks on the halted loan programme.

In a notification, the Ministry of Finance confirmed setting up the Central Debt Management Office which aimed at chalking out strategy to manage debt and deal with payments-related problems.

The ministry also mentioned that the latest initiative will help in keeping records of state-run facilities in one place.

Lately, the Washington-based lender linked the revival of stalled loan programme of the cash-strapped country with the completion of all prerequisites within a month time.

The new prerequisite tabled by the global lender includes additional taxation measures and pursuing structural reforms in the remaining period of the Fund program, per reports.

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